Americas top stories: weekly summary

HOUSTON (ICIS)–Here are the top stories from ICIS News from the week ended 22 March.

AFPM ’24: INSIGHT: Biden ending term with regulatory bang for US chems
The administration of US President Joe Biden is proposing a wave of regulations before its term ends in 2025, many of which will increase costs for chemical companies in the US and persist even if the nation elects a new president later this year.

AFPM ’24: US petrochemicals exports to become growing force but geopolitical risks loom
In an era of intensifying global competition, the US petrochemical industry is primed to become a growing force as an enviable cost position from shale gas enables it to run at high rates and ramp up exports, especially in a high crude oil price regime.

AFPM ’24: Red Sea, Panama issues to pressure shipping amid possible US port labor conflict
The 2024 shipping outlook seems dire amid a drought in Central America that has lowered the number of ships allowed to pass through the Panama Canal and rebel attacks in the Red Sea that have led most carriers to divert away from the Suez Canal.

AFPM ’24: LatAm petchems brace for slow path to recovery with all eyes on China
The petrochemicals downturn in Latin America is likely to be the longest ever as Chinese and global overcapacities dampen prices in the world’s quintessential “price taker” region for chemicals.

AFPM ’24: INSIGHT: New US auto emission rule to boost plastic demand, squeeze refiners
The new greenhouse gas restrictions that the US imposed on automobiles will speed up the adoption of electric vehicles (EVs), which will have several knock-on effects on plastics, lubricants and chemicals produced by refineries.

AFPM ’24: INSIGHT: US Q1 base oil glut indicates that historic weak demand persists
Historically weak base oil demand in the US has resulted in oversupply and unprecedented price spreads between producer posted prices, ICIS domestic market prices and ICIS spot export prices heading into this year’s International Petrochemical Conference (IPC).